Quota Share Endorsement to Facultative Obligatory Quota Share Retrocessional Agreement between PXRE Reinsurance Company and PXRE Reinsurance Ltd.
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Summary
PXRE Reinsurance Company and PXRE Reinsurance Ltd. have agreed to modify their existing reinsurance agreement, effective July 1, 2004, pending approval from the Connecticut Insurance Department. Under this endorsement, any risks the Company assumes and cedes to the Reinsurer on or after July 1, 2004, will no longer be limited by sub-limits for each reinsurance program. This change applies to all contracts written from that date forward.
EX-10.17 5 b405016_ex1017.htm EXHIBIT 10.17 Prepared and filed by St Ives Burrups
Exhibit 10.17
ANNEX V
QUOTA SHARE
ENDORSEMENT
TO
FACULTATIVE OBLIGATORY
QUOTA SHARE
RETROCESSIONAL AGREEMENT
(hereinafter referred to as the “Reinsurance Agreement”)
between
PXRE REINSURANCE COMPANY
(hereinafter referred to as the “Company”)
and
PXRE REINSURANCE LTD.
(hereinafter referred to as the “Reinsurer”)
Effective as of July 1, 2004, subject to the approval of the Insurance Department of the State of Connecticut, it is understood and agreed that with respect to risks assumed on all Contracts written by the Company on or after July 1, 2004 that cessions to the Reinsurance Agreement shall no longer be subject to per reinsurance program sub-limits.
Signed in Hamilton, Bermuda, as of July 1, 2004.
| | PXRE REINSURANCE LTD. | |
| | | |
| | By | /s/ GUY HENGESBAUGH |
| | | |
| | Name: | Guy D. Hengesbaugh |
| | Title: | President |
| | | |
| | PXRE REINSURANCE COMPANY | |
| | | |
| | By | /s/ JEFFREY L. RADKE |
| | | |
| | Name: | Jeffrey L. Radke |
| | Title: | CEO |
